Singapore share prices closed lower for the first time in four days on Tuesday on profit-taking with investors looking for leads as the current corporate earnings season draws to a close, dealers said. The Straits Times Index fell 11.29 points, or 0.49 percent, at 2,289.66.
Volume was 998 million shares valued at 982 million Singapore dollars (592 million US), up from 864 million shares worth 876 million Singapore dollars on Monday. Losers outnumbered gainers 266 to 244, with 822 stocks unchanged.
"The index has completed its consolidation phase and is likely to trend up towards its short-term resistance at 2,335 over the next 10 to 20 market days," DBS Vickers said in a note to clients.
But the index should slide lower by the end of September with an immediate support level at 2,242, it said.
Among other blue chips, index heavyweight Singapore Telecommunications Ltd fell six cents to 2.64. Singapore Airlines added 20 cents to 12.0, Singapore Press Holdings dipped two cents to 4.48, while ST Engineering shed a cent to 2.57.
Most banks were sluggish, with DBS down 10 cents to 15.50 and United Overseas Bank down 10 cents at 14.20. Oversea-Chinese Banking Corp was flat at 6.25.
Most property firms gave up their gains fuelled earlier by Prime Minister Lee Hsien Loong's comments the government will help low-income families acquire their own homes.
City Development closed flat at 8.85, Keppel Land dipped two cents to 3.40, while CapitaLand shed two cents to 2.88. Singapore Land jumped five cents to 5.55.
Chip tester and packaging firms STATS ChipPAC and United Test and Assembly Corp (UTAC) bucked the negative trend and closed higher on laggard interest after recent falls.
STATS ChipPac gained five cents at 1.10, while UTAC rose 2.5 cents to 6.75 cents.
Venture Corp added 50 cents to 15.60, Creative Technology declined 10 cents to 12.0, while Chartered Semiconductor gained a cent to 1.19.
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